The Company is now seeking Shareholder approval by way of a special resolution to have the ability to issue Equity Securities under the 10% Placement Facility. ASX Listing Rule 7.1A enables eligible entities to issue Equity Securities up to 10% of their issued capital through placements over a 12 month period after the annual general meeting (10% Placement Facility). The 10% Placement Facility is in addition to the Company’s 15% placement capacity under Listing Rule 7.1. At the date of this Notice, the Company has on issue 106,048,002 Shares and therefore has a capacity to issue: (a) 15,907,200 Equity Securities under Listing Rule 7.1; and (b) subject to the Shareholder approval being sought under Resolution 4, 10,604,800, Equity Securities under Listing Rule 7.1At the date of this Notice, the Company has on issue 106,048,002 Shares and therefore has a capacity to issue: (a) 15,907,200 Equity Securities under Listing Rule 7.1; and (b) subject to the Shareholder approval being sought under Resolution 4, 10,604,800, Equity Securities under Listing Rule 7.1A.A. The Equity Securities will be issued at an issue price of not less than 75% of the VWAP for the Company’s Equity Securities over the 15 Trading Days immediately before: So we have 106,048,002 shares plus 10,604,800 at 10% Placement Facility which is subject to Shareholder approval plus 15,907,200 under the 15% placement capacity without shareholder approval. So 26,512,000 to raise about 2 million dollars to have 132,560,002 shares or another 25% more shares... So who gets the new shares at 6.5 cents ??? And how long will 2 odd mill LAST
ORS Price at posting:
7.5¢ Sentiment: None Disclosure: Held
